Selena Gomez Net Worth (Money & Salary)

What Is Selena Gomez’s Net Worth and Salary?

With a net worth of $1 billion, Selena Gomez stands out as an American singer, actress, producer, songwriter, and a prominent figure on social media. The following section explains that her impressive wealth largely stems from the success of her makeup brand, Rare Beauty.

Starting her career as a child actress in shows like “Barney & Friends,” Selena Gomez has evolved into one of the world’s leading stars. In contrast to many of her fellow Disney stars, Gomez has managed to avoid much of the drama associated with fame. Unlike Lindsay Lohan, Amanda Bynes, Britney Spears, and Demi Lovato, she has balanced the demands of her career, high-profile relationship with Justin Bieber, and the pressures of being in the public eye with remarkable composure.

Her journey in acting began at seven years old on “Barney & Friends,” followed by a recurring role on the Disney Channel’s “Hannah Montana” during its second and third seasons. In 2007, she took on a lead role in the hit series “Wizards of Waverly Place.” Subsequently, Gomez featured in films including “Another Cinderella Story,” “Princess Protection Program,” and “Ramona and Beezus.” Currently, she is a highly sought-after actress as well as an endorser, and in 2021, she began starring in the Hulu series “Only Murders in the Building” with Steve Martin and Martin Short.

Alongside her acting career, Selena has enjoyed success in music, having released three Gold-certified studio albums with Selena Gomez & The Scene.

Recognized as one of the most influential personalities on social media, she ranks among the highest-paid endorsers globally. As of now, she boasts over 58 million followers on TikTok and more than 420 million followers on Instagram, making her the first woman to surpass 400 million on this platform. Her YouTube channel has over 33 million subscribers and nearly 13 billion total views.

In addition to her entertainment endeavors, Selena serves as a UNICEF Goodwill Ambassador when she is not engaged in projects related to music, acting, or rehearsing.

Gomez has also become an owner and investor in the ice cream brand Serendipity and launched her makeup line, Rare Beauty, in September. Additionally, she co-founded the mental health platform “Wondermind” and has invested in food delivery service Gopuff.

Rare Beauty & Other Investments

Apart from her work in acting and music, Selena thrives as an entrepreneur and investor.

In 2020, she took on the role of investor and co-owner for the ice cream brand Serendipity.

As a co-founder of the mental health startup Wondermind, Selena witnessed the company raise $5 million in August 2022, achieving a valuation of $100 million. This round was led by Serena Williams’ venture fund, Serena Ventures, alongside Lightspeed Venture Partners and Sequoia Capital. Wondermind describes itself as a “mental fitness” company, creating varied content across social media channels, newsletters, podcasts, and more.

Of significant importance to Selena’s net worth is her founding of Rare Beauty, which she launched in September 2020 with a special offering at Sephora. The brand has achieved remarkable success, generating at least $100 million in revenue in 2022 and an unverified $350 million in 2023. Assuming the $350 million figure is accurate and using a conservative 4x revenue multiple, Rare Beauty’s current valuation stands at a minimum of $1.4 billion. Reports in early 2024 suggested Selena was contemplating a $2 billion acquisition offer and it is believed that she retains 51% ownership of the brand.

Rare Beauty’s success can be attributed to its focus on…on products that are moderately priced, easily accessible, and user-friendly, such as lip liner, liquid foundation, and liquid blush. The majority of these products range in price from $5 to $30.

Rare Beauty contributes 1% of its total sales to a philanthropic fund it established. So far, this fund has raised over $5 million, including contributions from donor events.

Early Life

Born Selena Marie Gomez on July 22, 1992, in Grand Prairie, Texas, she is the daughter of Ricardo Joel Gomez and former stage actress Amanda Dawn (Mandy) Cornett. At the time of Selena’s birth, her mother was only sixteen. The name Selena was chosen in honor of the famous singer Selena Quintanilla-Perez. After her parents divorced when she was five, Gomez stayed with her mother, who struggled financially to support them. In May 2010, Selena completed her high school education through homeschooling.

Early Career

Selena’s early television career began with the show “Barney and Friends,” where she portrayed Gianna from 2002 to 2004 and made appearances in a total of 14 episodes. During her time on “Barney,” she worked alongside fellow actress Demi Lovato. In addition, she made a cameo in the 2003 film “Spy Kids 3-D: Game Over” and featured in the television movie “Walker, Texas Ranger: Trial by Fire” in 2005. In 2006, Selena guest-starred in “The Suite Life of Zack & Cody” on Disney and later took on a recurring role as a pop star in the popular series “Hannah Montana” in 2007.

Acting Career

Her breakout role on television was in “Wizards of Waverly Place,” which ran for 106 episodes between 2007 and 2012. Additionally, there were two movies based on “Wizards of Waverly Place.” For her performance in the series, Selena earned $30,000 per episode. She has starred in several films and recently founded her own production company, July Moon Productions.

Music and Other Ventures

At the age of 16, Selena signed with Hollywood Records, the same label that had previously signed Miley Cyrus and Demi Lovato. Throughout her career, she has launched three studio albums, two EPs, and one compilation album. Selena also served as the lead vocalist for the band Selena Gomez and the Scene, which released three studio albums and one remix album. She has completed two solo tours and toured three times with her former band.

In September 2017, it was announced that Selena had entered into a two-year endorsement agreement with Puma worth $30 million, becoming the new face of the brand alongside Rihanna. She also serves as an executive producer for the Netflix series “13 Reasons Why” and “Living Undocumented.”

$30 Million Puma Deal

As stated earlier, Selena became the face of Puma, an activewear brand, in September 2017. The total amount for the two-year contract reached $30 million. She shared the news on Instagram by posting a picture of herself in Puma attire along with the caption, “Officially a part of the fam @puma #pumapartner.”

Gomez expressed her enthusiasm about the forthcoming collaboration with Puma in a press release, calling it “very exciting.” The release highlighted that Puma has redefined the landscape of merging athletic wear and fashion, adding, “It’s amazing to see this influence on style and culture and I’m excited to be a part of it. I am hoping that we can create something special together. We already have some really cool projects in the works.”

Adam Petrick, Global Director for Brand and Marketing at PUMA, mentioned, “Selena embodies authenticity, creativity, talent, and a fearless attitude. She represents what today’s female consumer seeks in a role model … Recently, she has shown her true strength through her honesty about living with Lupus, giving us all a remarkable example of confidence and determination. Selena aligns perfectly with PUMA because she stands up to challenges; she fights and perseveres, which is at the core of PUMA’s ethos. She won’t just represent our brand; she will also help define and elevate our women’s business.”

Gomez’s debut for Puma will be showcased in the brand’s newest campaign for the Phenom, a part of Puma’s latest women’s footwear collection.

$10 Million Coach Deal

Gomez entered a $10 million endorsement agreement with Coach, a bag manufacturer, in December 2016, when she was just 24 years old. Not only did she step in as the brand’s new face, but this deal also granted her the opportunity to design her own line for Coach, which aimed to expand its market. The brand sought the younger demographic Selena represented, while still catering to its existing mature customer base.

According to Stuart Vevers, the creative director at Coach, the entire brand is headed toward a “new day at Coach.” He remarked in an interview with British Vogue, “When I first joined, I used our history as a touchstone, so it was for me to discover the things that would be believable at Coach … It was essential for me to be bold and look ahead to see what the next generation seeks from luxury and fashion.”

Consequently, the 75-year-old brand is aiming to appeal to a younger audience.
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While some view Coach as a “heritage” brand appealing primarily to older individuals, the brand is actively seeking to engage a younger demographic. During Coach’s recent celebration of its 75th anniversary, notable young figures such as Michael B. Jordan, Diplo, and Zoë Kravitz made appearances. Coach is aiming to capitalize on this youthful star influence to attract a new generation of customers. The recent signing of Gomez is yet another initiative aligned with this objective.

Earnings from Instagram

Selena was the most-followed person on Instagram for many years and currently boasts over 420 million followers.

It has been estimated that one Instagram post from Selena could be valued at $3.5 million for the brand sponsoring it. Her earnings for a single sponsored post typically range from $500,000 to $800,000. Through her various ventures, mainly Coach, Puma, and Instagram, Selena generates an impressive annual income of $10-15 million. Although this is a remarkable sum, it still positions her outside the top 100 highest-paid celebrities globally. Perhaps Ms. Gomez prefers to maintain a lower profile.

Personal Life

Selena briefly dated Nick Jonas in 2008 and is well-known for her tumultuous on-again-off-again relationship with fellow pop star Justin Bieber. Their romance reportedly caused Selena so much stress that she sought treatment in a rehabilitation facility. They had a serious relationship lasting two years from December 2010 to November 2012, before breaking up only to rekindle their romance. This pattern repeated in 2013, 2014, 2015, and 2017, ultimately resulting in a final breakup in March 2018. Gomez and The Weeknd dated from January to October 2017, with his album “My Dear Melancholy,” released March 2018, containing several references to their relationship.

Selena has referred to Taylor Swift as her only true friend in the entertainment industry.

In December 2023, it was announced that Selena is dating producer Benny Blanco.

Philanthropy

Selena actively participates in philanthropy, dedicating many hours to numerous charitable causes. She closely collaborates

Currently serving as the ambassador for UNICEF’s trick-or-treat fundraising initiative, Gomez once traveled to Ghana in 2009. During her week-long visit, she witnessed the dire conditions faced by impoverished children lacking basic necessities such as clean water and food. Leveraging her fame, she aimed to raise awareness about the situation in Ghana through her connection with UNICEF. Additionally, she visited Chile to connect with families involved in UNICEF’s Programa Puente, which empowers families with essential parenting skills.

Gomez also holds the title of ambassador for Do.Something.org and engages with the charity RAISE Hope for Congo. In 2012, she received the honor of being named ambassador for the Ryan Seacrest Foundation. She has made numerous visits to children’s hospitals. Furthermore, Selena has served as a spokesperson for State Farm Insurance, appearing in several commercials aired on Disney focused on promoting safe driving awareness.

Health Issues

In 2014, Selena received a diagnosis of Lupus. She underwent a kidney transplant in September 2017, with the organ donated by her friend and fellow actress Francia Raisa, known for her role in “The Secret Life of the American Teenager.” In April 2020, Selena disclosed her diagnosis of Bipolar Disorder. By November 2022, she revealed that she experienced an episode of psychosis back in 2018.

Selena Gomez Net Worth Milestones

Selena was listed on CelebrityNetWorth in December 2009, boasting a net worth of $1 million at just 17 years old, earning $30,000 per episode for “Wizards of Waverly Place.” Her earnings from the show exceeded $3 million. By 2011, her net worth had reached over $5 million, and by April 2013, following the release of her debut solo album, she surpassed $10 million. In 2015, her net worth climbed to over $18 million, primarily due to her Instagram presence. By mid-2018, thanks to her deals with Puma and Coach, along with album sales and her acting career, her net worth surged past $60 million. As of 2019, Selena Gomez’s estimated net worth reached $75 million. By July 2023, thanks to Rare Beauty, her net worth was estimated at $800 million. In September 2024, she officially entered the billionaire club.

Real Estate

Throughout the years, Selena has owned several properties.

In July 2011, she acquired a home in Tarzana, California, for $2.175 million. The 4,500-square-foot property sits on an acre and was formerly owned by the rising star Jonah Hill. This single-story home offers five bedrooms and five bathrooms, featuring a spacious eat-in kitchen, an office area, high ceilings, ample natural light, and stunning hardwood floors. Outside, the property includes a spa, pool, tennis court, and bocce ball court. She initially listed this home for sale in May 2014 at $3.495 million, eventually selling it for $3.45 million in October 2014.

In 2014, she purchased a sizable house within a gated community in Calabasas for $3.69 million, spanning 3.15 acres. Despite her attempts to sell it for $4.495 million, she ultimately incurred a small loss. The buyer turned out to be rapper French Montana, who listed the property in February 2020.

For $6.6 million, here is a video tour of that residence:

In 2015, she made an undisclosed purchase for a very large estate located in Fort Worth, Texas. This house was listed at $3.499 million in both 2016 and 2017, before being relisted in 2018 for $2.999 million. Ultimately, she completed the sale of this property for $2.4 million in October 2020.

Then in 2017, she acquired a modest home by her standards in Studio City, California, at a cost of $2.249 million. A year later, she put it on the market for $2.799 million, ultimately selling it for $2.3 million.

On April 2020, Selena invested $4.9 million in an 11,500-square-foot estate in Encino, California. Built by Tom Petty in the late 1980s, the home was passed to his ex-wife during their divorce in 1996. After losing the property to foreclosure in 2015, it was sold to Selena by a non-celebrity owner who had held it for less than a year, making a $400,000 profit on the sale.